Dear Editor,
On August 14, the Sunday Observer carried a story entitled ‘Crippled woman’s house up for auction’. Based on its contents, readers may have been led to conclude that the National Housing Trust (NHT) had not given sufficient consideration to the mortgagor’s circumstances before opting to recover the property via public auction.
Without divulging the full details of the case, the Trust wishes to clarify the issue in order to create better understanding of how the organisation treats with mortgagors in arrears.
We wish to point out that though Eugenie Amore’s name is registered on the property title as part owner, she is not a borrower. Loans were approved and disbursed to two other mortgagors with whom the NHT has been in communication.
The subject property has been in arrears since 2008. Over that time, the NHT has entered into no fewer than five payment arrangements with the mortgagors, none of which has been honoured.
The NHT’s policy is that once an account is in arrears in excess of 90 days, the property stands liable for recovery. However, the NHT is on record as being extremely lenient in the application of this policy. Where applicable, the Trust carries out site visits to verify mortgagors’ appeals for leniency and offers a range of payment- relief options to help those in financial difficulty as they try to overcome their challenges. It is only as last resort that properties mortgaged to the NHT are referred to auction.
By Amore’s own admission, the property earns rental income. It was on that basis that a specific arrangement was offered to the mortgagors in 2013. The expectation was that part proceeds from that income would have been used to bring the account up to date. That did not materialise.
The Trust believes it has been fair in the handling of this account. However, given the situation, the NHT is willing to have further discussion with the mortgagors in order to clear the arrears so that they may retain their property.
Corporate Communication Department
National Housing Trust
Park Boulevard
Kingston 5
On August 14, the Sunday Observer carried a story entitled ‘Crippled woman’s house up for auction’. Based on its contents, readers may have been led to conclude that the National Housing Trust (NHT) had not given sufficient consideration to the mortgagor’s circumstances before opting to recover the property via public auction.
Without divulging the full details of the case, the Trust wishes to clarify the issue in order to create better understanding of how the organisation treats with mortgagors in arrears.
We wish to point out that though Eugenie Amore’s name is registered on the property title as part owner, she is not a borrower. Loans were approved and disbursed to two other mortgagors with whom the NHT has been in communication.
The subject property has been in arrears since 2008. Over that time, the NHT has entered into no fewer than five payment arrangements with the mortgagors, none of which has been honoured.
The NHT’s policy is that once an account is in arrears in excess of 90 days, the property stands liable for recovery. However, the NHT is on record as being extremely lenient in the application of this policy. Where applicable, the Trust carries out site visits to verify mortgagors’ appeals for leniency and offers a range of payment- relief options to help those in financial difficulty as they try to overcome their challenges. It is only as last resort that properties mortgaged to the NHT are referred to auction.
By Amore’s own admission, the property earns rental income. It was on that basis that a specific arrangement was offered to the mortgagors in 2013. The expectation was that part proceeds from that income would have been used to bring the account up to date. That did not materialise.
The Trust believes it has been fair in the handling of this account. However, given the situation, the NHT is willing to have further discussion with the mortgagors in order to clear the arrears so that they may retain their property.
Corporate Communication Department
National Housing Trust
Park Boulevard
Kingston 5